(Toronto) It could soon cost a little more to post a letter.
Canada Post is considering increasing by seven cents, to 99 cents, the price of stamps purchased in booklets, rolls or sheets – formats which represent the majority of sales, according to the Crown corporation.
The price of a stamp purchased individually would increase from $1.07 to $1.15 for a letter mailed in Canada, an increase of eight cents.
Other products, including mail to the United States, international mail and registered mail within Canada, would also see a rate increase.
The price increases were announced on Friday for 30 days of public consultation, until March 11. Subject to regulatory approvals, they would come into effect in approximately three months, on May 6.
Canada Post says domestic mail rates have increased twice in the last decade: by five cents in 2019 and by two cents in 2020. The Crown corporation says the “last significant increase” was in March 2014.
Canada Post explains that inflation and the fact that there are fewer letters to be delivered to more addresses each year “put considerable financial pressure” on its operating costs.
The Crown corporation estimates the impact of the change would be about 65 cents per year for the average Canadian household and about $12.07 for the average Canadian small business.